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OPEC
OPEC O0087900 (ō′pĕk′)abbr. Organization of Petroleum Exporting CountriesOPEC (ˈəʊˌpɛk) n acronym for (Commerce) Organization of Petroleum-Exporting Countries: an organization formed in 1961 to administer a common policy for the sale of petroleum. Its members are Algeria, Angola, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. Ecuador and Gabon were members but withdrew in 1992 and 1995 respectivelyOPEC (ˈoʊ pɛk) n. Organization of Petroleum Exporting Countries. ThesaurusNoun | 1. | OPEC - an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleumOrganization of Petroleum-Exporting Countriesoil cartel - a cartel of companies or nations formed to control the production and distribution of oilglobal organization, international organisation, international organization, world organisation, world organization - an international alliance involving many different countriesAlgeria, Algerie, Democratic and Popular Republic of Algeria - a republic in northwestern Africa on the Mediterranean Sea with a population that is predominantly Sunni Muslim; colonized by France in the 19th century but gained autonomy in the early 1960sArab Republic of Egypt, Egypt, United Arab Republic - a republic in northeastern Africa known as the United Arab Republic until 1971; site of an ancient civilization that flourished from 2600 to 30 BCBharat, India, Republic of India - a republic in the Asian subcontinent in southern Asia; second most populous country in the world; achieved independence from the United Kingdom in 1947Dutch East Indies, Indonesia, Republic of Indonesia - a republic in southeastern Asia on an archipelago including more than 13,000 islands; achieved independence from the Netherlands in 1945; the principal oil producer in the Far East and Pacific regionsIran, Islamic Republic of Iran, Persia - a theocratic Islamic republic in the Middle East in western Asia; Iran was the core of the ancient empire that was known as Persia until 1935; rich in oilAl-Iraq, Irak, Iraq, Republic of Iraq - a republic in the Middle East in western Asia; the ancient civilization of Mesopotamia was in the area now known as IraqState of Kuwait, Koweit, Kuwait - an Arab kingdom in Asia on the northwestern coast of the Persian Gulf; a major source of petroleumLibya, Socialist People's Libyan Arab Jamahiriya - a military dictatorship in northern Africa on the Mediterranean; consists almost entirely of desert; a major exporter of petroleumKatar, Qatar, State of Katar, State of Qatar - an Arab country on the peninsula of Qatar; achieved independence from the United Kingdom in 1971; the economy is dominated by oilKingdom of Saudi Arabia, Saudi Arabia - an absolute monarchy occupying most of the Arabian Peninsula in southwest Asia; vast oil reserves dominate the economyUnited Arab Emirates - a federation of seven Arab emirates on the eastern Arabian peninsula; achieved independence from the United Kingdom in 1971; rich in oil reservesRepublic of Venezuela, Venezuela - a republic in northern South America on the Caribbean; achieved independence from Spain in 1811; rich in oil | TranslationsOPEC
OPEC: see Organization of Petroleum Exporting CountriesOrganization of Petroleum Exporting Countries (OPEC), multinational organization (est. 1960, formally constituted 1961) that coordinates petroleum policies and economic aid among oil-producing nations. ..... Click the link for more information. .OPECcartel of nations whose economic livelihood depends upon the export of petroleum. [World Hist.: WB, 14: 646]See: CooperationOPEC Organization of Petroleum-Exporting Countries: an organization formed in 1961 to administer a common policy for the sale of petroleum. Its members are Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. Ecuador and Gabon were members but withdrew in 1992 and 1995 respectively www.opec.orgOPEC
OPECSee: Organization of Petroleum Exporting CountriesOrganization of Petroleum Exporting CountriesAn international organization founded in 1960 whose members collaborate on the production and exportation of oil. Members meet several times a year to discuss oil prices and ways to bring them to an optimal level for members. OPEC has a great influence over the world's oil supply as the organization sets production quotas for member nations. Cutting production tends to result in higher oil prices while raising production tends to lower them. Many of OPEC's member nations are heavily reliant on oil to fund their economies and, as a result, tend to prefer high prices. On the other hand, other members (though the groups overlap) suffer high inflation rates when oil prices are too high. As a result, there is often tension between so-called "price hawks" and other members. See also: Brent blend.OPEC see ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES.OPEC see ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES.OPEC
Acronym | Definition |
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OPEC➣Organization of the Petroleum Exporting Countries | OPEC➣OFI Private Equity Capital (France) | OPEC➣Ohio Prevention and Education Conference (Ohio Resource Network for Safe & Drug Free Schools & Communities) | OPEC➣Old Protestant Episcopal Church | OPEC➣Optical Proximity Effect Correction | OPEC➣Ocean Processes and European Climate |
OPEC
Synonyms for OPECnoun an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleumSynonyms- Organization of Petroleum-Exporting Countries
Related Words- oil cartel
- global organization
- international organisation
- international organization
- world organisation
- world organization
- Algeria
- Algerie
- Democratic and Popular Republic of Algeria
- Arab Republic of Egypt
- Egypt
- United Arab Republic
- Bharat
- India
- Republic of India
- Dutch East Indies
- Indonesia
- Republic of Indonesia
- Iran
- Islamic Republic of Iran
- Persia
- Al-Iraq
- Irak
- Iraq
- Republic of Iraq
- State of Kuwait
- Koweit
- Kuwait
- Libya
- Socialist People's Libyan Arab Jamahiriya
- Katar
- Qatar
- State of Katar
- State of Qatar
- Kingdom of Saudi Arabia
- Saudi Arabia
- United Arab Emirates
- Republic of Venezuela
- Venezuela
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